Nomura

Nomura announced details of its new strategy at its investor day in Tokyo on Tuesday, confirming its plans to cut its equity business in EMEA, embark on a cost cutting drive in Americas, but shore up its regional presence in Asia outside Japan.

The recent run of good news on IPOs was broken on Wednesday when Telepizza made a dire debut on Bolsa Madrid after its €550m flotation, priced on Tuesday.

Belgium is set to bring a private dabbling in ultra-long debt issuance into the public sphere, as it mandated on Wednesday for a debut 50 year euro benchmark a week after placing its second 100 year medium term note.

Rohan Lamba, an executive director in Nomura’s Asia ex-Japan equity capital markets desk in Hong Kong, is leaving at the end of April, said sources close to the situation.

Vallourec’s €480m rescue rights issue is heading for a successful conclusion on Friday April 22, bankers working on it said this week.

Agencies could be ready to enter the dim sum MTN market which, in contrast with the silent public market, is in good health.

Covered bond activity slowed this week with only three deals emerging, half the number seen in the prior week, with Canadian issuers at the fore.

Nomura has joined the growing list of banks that have slimmed down their Asia ex-Japan equities businesses, after making up to 30 people redundant across cash equity, research and syndicate.

Several of Europe’s IPOs moved forward today, with coverage and pricing updates and the launches of bookbuilds.

Nomura has cut up to 30 jobs in its Asia ex-Japan equities unit amid a wider shake up in its overseas operations, with personnel leaving across cash equity, research and equity syndicate.

Kia Motors Corp had a stellar response to its first dollar outing in almost five years, selling a dual-tranche bond on the back of what bankers say was one of the biggest order books achieved by a South Korean issuer. The combination of the strength of Kia's credit and its rarity value proved to be a winning recipe.

The primary covered bond market was active this week with as many as seven issuers raising more than €6bn, including the longest deal in over a year and a debut borrower in euros.